Bloomberg Business

UBS Sees $35 Billion Gain on Credit Suisse, Warns on Costs

UBS Group AG is gearing up for an estimated $34.8 billion gain as a result of its emergency takeover of Credit Suisse Group AG, while warning it faces billions in potential legal and regulatory costs from the rescue of its stricken former rival.

BOE’s Bailey Warns of Risk of Inflation Persistence in UK

Bank of England Governor Andrew Bailey said he was “unwavering” in his commitment to the UK’s 2% inflation target, as he warned that higher food prices and a tight labor market could cause the cost-of-living crunch to persist.

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